Ann: High Grade Gold Mineralisation Continues at Music Well, page-2

Just to unpack this Ann for a bit of perspective.

The gold targets are from SensOre. From their website:

SensOre is focused on fast-tracking the mines of tomorrow and believes that the combination of highest quality big data, artificial intelligence (AI) / machine learning (ML) and other scientific computing techniques will provide the next generation of exploration discovery in Australia and internationally.

The generation and validation of AI-targets (machine learning enhanced deposit predictions) is at the core of our business with AI-target opportunities leveraged through SensOre’s three business divisions:

• Data Cube
• AI&ML Technology
• Geoscience Solutions

All of SensOre’s activities are focused on the same goal: monetising the knowledge generated from its technology assets by enhancing the pace, reliability, efficiency and success of exploration. (emphasis added).

Comment:
Ok that all seems pretty intelligent.

Now look at who's leading the company:

ROBERT ROWE
BSc (Hons) MAusIMM RPG AIG & MSEG
Managing Director
Robbie has +30 years of experience in gold and copper exploration from greenfield to mining environment. He was former Chief Geologist and VP Exploration Australia Africa Asia Pacific region with Barrick Gold Corporation. He is an UNCOVER executive and from 2014 to 2019 was an independent consultant to the mining industry, government and academia.

ANTHONY O’SULLIVAN
BSc (Hons) MSc FAusIMM FSEG
Non-Executive Chair

Anthony is Chief Development Officer of Nasdaq-listed The Metals Company and has over 30 years’ experience in mineral exploration, technology and project development. He is a former BHP Global Exploration Leadership team member and has been involved in multiple start-ups including QPX Exploration, focused on deploying artificial intelligence and machine learning to improving mineral exploration outcomes.

ADRIAN MANGER
BBus CPA MBA
Non-Executive Director
Adrian is a senior business executive with 30 years’ minerals industry experience, including 20 years in executive roles with BHP. He has founded and successfully commercialised private Australian, Chilean and Peruvian mineral exploration companies, including investment financing and joint ventures with majors. He was a founding board member of the Australia Colombia Business Council and is the Chairman of recently Canadian Securities Exchange listed Pampa Metals. (Emphasis added).

Comment:
Solid experience there. What I've noticed about small operations with innovative people, the successful ones have people with deep experience AND they eventually have rejected working as part of a cog in a big bureaucracy, because that's what the likes of BHP and Barrick are. Big companies are lumbering they don't change direction easily nor absorb new ways of doing things. BHP makes mistakes, sometimes colossal ones. Size is no guarantee. I saw Teck as a JV option holder exercise an option and basically stuff exploration up for AZS for a considerable time, failing to see the obvious and barging down a course of action that was bewildering. My opinion not theirs.

Another example is Rio which stuffed around Altona Mining AOH to a debilitating extent paving the way for an opportunistic takeover by Cold Mountain Mining Corporation, CMMC. AZS, AOH and CMMC companies are now delisted due to takeovers.

I personally like Andrew Ford's bare bones approach and the decision to not even have an MD. Taking on board the innovative approach of SensOre seems like a smart thing to do.

Ford is making the effort to ensure Anns are so comprehensive the ordinary punter can understand them. This is money well spent. If I call the company he's responsive to reasonable questions and always picks up the call. But I make sure to call at a potentially quiet time of the day like afternoon WA time. I don't call in the AM or lunchtime their time it's obviously going to be busy then.
Close to their knock off time is a pretty safe bet IMO.

As this is a very distracted time for the market, I'm thinking crisis = opportunity.

Gold is the right sector for exploration and this may be a very good opportunity to get in close to the ground floor. I got in early with AZS and while some dilution may be on the table into the future, I think there is sufficient expertise here to steer the company in the right direction and avoid this as much as possible. Delay can be cropping but so also can be unnecessary costs and salaries.

There is considerable expertise being drawn on, and that's what I essentially backed with AZS. I'm not a geo but I like intelligent approaches and not a lumbering company, but the ability to think laterally and pivot.

JIMO but I think this Ann is worth careful scrutiny.

This is all about perspective. What I like is the exploration targets are being extended. This is a good thing in context.

No I did not consult with anyone at AUG when drafting this or even thinking about this post, and have no relationship other than as a shareholder with normal contact and enquiries of a shareholder. I used to get accused of being an apologist for AZS management during tough times for that company, but I was just being fair-minded.